SIR Capital Management L.P. Takes Position in Expand Energy Corporation $EXE

Key Points

• SIR Capital Management initiated a new position in Expand Energy during the fourth quarter, buying 119,600 shares worth about $13.2 million. The stake represents 1.5% of the fund’s holdings.
• Institutional ownership remains very high, with hedge funds and other large investors holding about 97.93% of Expand Energy shares. Several firms, including Capital Research Global Investors and Northwestern Mutual Wealth Management, significantly increased their positions.
• Expand Energy recently beat quarterly expectations, reporting $3.83 EPS versus the $3.61 consensus and revenue of $4.40 billion versus $3.53 billion expected. The company also paid a quarterly dividend of $0.575 per share, equal to a 2.6% annualized yield.

SIR Capital Management L.P. bought a new stake in Expand Energy Corporation (NASDAQ:EXE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 119,600 shares of the company's stock, valued at approximately $13,199,000. Expand Energy makes up 1.5% of SIR Capital Management L.P.'s holdings, making the stock its 23rd largest position. SIR Capital Management L.P. owned 0.05% of Expand Energy at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EXE. Capital Research Global Investors boosted its holdings in shares of Expand Energy by 161.5% in the 3rd quarter. Capital Research Global Investors now owns 15,959,335 shares of the company's stock valued at $1,695,520,000 after buying an additional 9,856,576 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Expand Energy by 36,574.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,420,912 shares of the company's stock worth $267,172,000 after purchasing an additional 2,414,311 shares during the period. CIBC Private Wealth Group LLC boosted its stake in Expand Energy by 862.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,256,987 shares of the company's stock worth $133,542,000 after purchasing an additional 1,126,363 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Expand Energy during the 3rd quarter worth $115,504,000. Finally, State Street Corp boosted its stake in Expand Energy by 8.3% during the 3rd quarter. State Street Corp now owns 13,183,560 shares of the company's stock worth $1,400,621,000 after purchasing an additional 1,014,484 shares during the period. Institutional investors and hedge funds own 97.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on EXE shares. Barclays cut shares of Expand Energy from an "overweight" rating to a "reduce" rating in a research note on Tuesday, May 26th. Piper Sandler increased their price target on shares of Expand Energy from $136.00 to $138.00 and gave the stock an "overweight" rating in a research note on Thursday, March 12th. Jefferies Financial Group reiterated a "buy" rating and set a $141.00 price target on shares of Expand Energy in a research note on Thursday, February 19th. William Blair cut shares of Expand Energy from an "outperform" rating to a "market perform" rating in a research note on Thursday, April 30th. Finally, Morgan Stanley decreased their price target on shares of Expand Energy from $141.00 to $139.00 and set an "overweight" rating for the company in a research note on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $131.45.

Expand Energy Stock Up 2.0%

Shares of Expand Energy stock opened at $88.78 on Friday. The company has a market cap of $21.24 billion, a P/E ratio of 6.62 and a beta of 0.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.11 and a current ratio of 1.11. Expand Energy Corporation has a one year low of $86.80 and a one year high of $126.62. The firm has a fifty day moving average of $96.23 and a two-hundred day moving average of $104.55.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $3.83 EPS for the quarter, topping analysts' consensus estimates of $3.61 by $0.22. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $3.53 billion. Expand Energy had a net margin of 22.53% and a return on equity of 10.26%. On average, analysts forecast that Expand Energy Corporation will post 8.7 earnings per share for the current year.

Expand Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 14th were given a dividend of $0.575 per share. The ex-dividend date was Thursday, May 14th. This represents a $2.30 dividend on an annualized basis and a yield of 2.6%. Expand Energy's dividend payout ratio is presently 17.15%.

Insiders Place Their Bets

In other news, CFO Marcel Teunissen acquired 2,000 shares of the business's stock in a transaction on Thursday, May 7th. The stock was bought at an average price of $96.43 per share, for a total transaction of $192,860.00. Following the transaction, the chief financial officer owned 9,144 shares in the company, valued at $881,755.92. This represents a 28.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Wichterich acquired 1,000 shares of the business's stock in a transaction on Thursday, June 4th. The shares were purchased at an average price of $93.36 per share, with a total value of $93,360.00. Following the transaction, the chief executive officer owned 84,498 shares in the company, valued at $7,888,733.28. The trade was a 1.20% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.22% of the stock is currently owned by corporate insiders.

Expand Energy Company Profile

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.

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